Zurich Life Ireland has said it achieved strong growth in new business market share and profitability in the first three months of the year.
The company, which was formerly known as Eagle Star Life, said its market share rose by 43% to stand at 14%, while it also holds a 38% share of the PRSA market.
It said its total new business APE was down 18% to €40.2m in the first quarter of 2009 compared to the same time last year. This, however, compared to a decline in the total market of 43%, Zurich Life said.
It also reported a 28% rise in protection new business APE in the three month period.
'We continue to perform strongly in a challenging market environment,' commented CEO Michael Brennan.
